Top Renovation Returns by Bankrate

Whether you plan to stay in your house a long time or just a few years, it’s smart to know which home renovations add the most value to your place.

“Remodeling,” a magazine for the construction industry, in its 2018 Cost vs. Value report, compares the average cost of 21 remodeling projects in 149 markets with the value those projects retain at resale in 100 U.S. markets.

Here are the six interior remodeling projects that deliver the highest return.

1. Garage door replacement

• Average cost: $3,470
• Average resale value: $3,411
• Cost recouped: 98.3%

A good-looking garage door tops the list when it comes to returning cash to your pocket, the Cost vs. Value report shows. This project involves removing an existing 16-by-7-foot garage door and replacing it with a new four-section garage door with heavy-duty galvanized steel tracks. This curb-appeal enhancer will get you back almost every dollar you spent on it when you sell your house.

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Which Home Improvements Pay Off?

Basic maintenance, such as the roof and exterior painting, are frequently more important than an awesome kitchen.

In the first year my husband and I lived in our house, we spent almost $20,000 on home improvements. When we set that money aside at the beginning of the year, we dreamed about granite counters and steam showers; what we ended up with was a new furnace, new gutters, a drainage system to keep the basement dry, new landscaping and lots of new paint. At the end of that year as I wiped down my tacky Formica countertops and bathed in my 1950s seafoam green tub, I wondered if we had spent that money wisely. If we had put our house up for sale, would potential buyers have really cared about the dry basement and reliable furnace?

After talking to a slew of realtors, contractors and architects, the consensus was yes. "If the roof is leaking, buyers won't get beyond that," says Ron Phipps with Phipps Realty in Warwick, R.I. "I don't care how awesome the kitchen is."

According to Remodeling Magazine (http://www.remodeling.hw.net/) you're less likely to recoup your investment in a major kitchen or bathroom remodel than you are to get back what you spend on basic home maintenance such as new siding. Siding replacement recouped 92.8 percent of its cost, according to the study. The only home improvement likely to return more at resale was a minor (roughly $15,000) kitchen remodel, which returned 92.9 percent. Replacing roofs and windows were also high on the list, returning 80 percent or more at resale.

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